Brent oil price rallied upwards well yesterday to succeed achieving our first waited target at 43.00, and bounced bearishly affected by the strength of this level, noticing that the EMA50 provides the positive support to the price, while stochastic gathers the positive momentum on the intraday time frames.
Therefore, these factors encourage us to suggest breaching the above mentioned level to open the way to head towards 43.84 that represents our next target, noting that the continuation of the bullish wave requires holding above 42.17.
The expected trading range for today is between 41.14 support and 44.00 resistance.
The expected trend for today: Bullish
Origin: Economies
